Tax Rates & Allowances

Capital Allowances

Dredging straight line basis

Rate

Writing down allowance

4%

Business premises renovation

Initial allowance

100%

Writing down allowance for unrelieved expenditure (straight-line basis)

25%

Know-how (reducing balance basis)

Writing down allowance

25%

Mineral extraction (reducing balance basis)

Writing down allowances

General

25%

Acquisition of mineral asset

10%

Patent rights (reducing balance basis)

Writing down allowance

25%

Plant & machinery (reducing balance basis)

Annual investment allowance (max £250,000)

100%

First year allowances

Energy saving or environmentally beneficial assets

100%

New low-emission cars

100%

New zero-emission goods vehicles

100%

New assets for use in designated areas of enterprise zones

100%

Writing down allowances

General

18%

Cars (expenditure incurred on or after 1-6 April 2013 where CO2 emissions exceed 130g/km (previously 160g/km))

8%

Special rate expenditure including integral features and thermal insulation

8%

Long life assets

8%

Research & development

Allowance

100%

Email us

Postal Address

James Johnson (Accountancy) Ltd

7 Peddars Drive, Hunstanton

Norfolk, PE36 6HF

 

Snettisham Office

43 Lynn Road, Snettisham

Nofolk, PE31 7LR